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New Power Mac faster yet
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August 31, 1999: 2:41 p.m. ET
Company seeks to solidify position in serving professional publishing market
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NEW YORK (CNNfn) - Apple Computer Inc. unveiled its newest Power Macintosh computer and PowerPC chip Tuesday, which the company hopes will solidify its position in the publishing market as it faces a new competitive landscape.
Apple 's (AAPL) Power Mac G4 is designed to provide faster processing of multimedia and graphics applications.
The company's latest Power Mac is powered by a 400-MHz PowerPC G4 chip. The company claims a 500-MHz model, which is scheduled for release in the fall, allows graphics software to run twice as fast as on a 600-MHz Pentium-based PC.
The company also introduced a 22-inch flat panel LCD monitor, called Apple Cinema Display, priced at $3,999. Customers can bundle the Apple Cinema Display with a 450-MHz Power Mac G4 for $6,498.
Apple's new Power Mac G4
Apple's computers have long dominated the publishing market, but now it faces stiff competition from Intel Corp. (INTC) as it targets its chips for graphics applications on Windows-based PCs.
Apple said it will ship 450-MHz PowerPC chips in two weeks, while a 500-MHz model will be available in October.
Separately, Apple said it has received 140,000 advance orders for its iBook line of portable computers, which the company introduced in July. The iBook is scheduled to ship to stores in mid-September.
Apple made its announcements at a publishing technology conference in San Francisco.
Apple shares rose 1-5/8 to 63-11/16 in midday trade.
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